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tv   Making Money With Charles Payne  FOX Business  March 15, 2019 2:00pm-3:00pm EDT

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we will change this. we have the dow up 75 points. waiting for the president of the united states to do something. it's not been done yet, and that's veto a measure he's pretty confident he has the votes to prevent an override. charles payne right >> charles: good afternoon, everyone: coming up the markets in rally mode, capping off a solid week adding to the monster gains for 2019. i'm tell you i think we are in a midst at this very moment tea breakout that can lift the major indices to all-time highs. we will also take a look at the magic numbers and the stocks of the day coming up. one of them up more than 1,000% from the first time i mentioned it on fbn. and president trump promising his first veto any time now this after a dozen republicans joined with democrats to block his emergency declaration for border wall. the latest in a new string of conflicts between the white house and some on the republican side in the senate. we're going to have a live report for you there.
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and the world pointing the finger at facebook today. warning that it must do more to stop extremism on their sites this following the massive terror attack in new zealand. is government regulation on the way? all that and so much more on making money. ♪ ♪ >> charles: from worse to first shares of one of the stocks today boeing jumping out report plane maker is rolling out a software upgrade for the 737 max that stalled prevention it will be ready in seven days. blamed the software at least in part for the northeast natioe arenaenationwidenortheasten crao reporting there are clear similarities between our crash and the lion air crash. shares of boeing spiking sending the stock higher
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session highs. this after weaker than expected industrial data really eased some of thee pre-market opening gains we thought we would have out the of the gate. monster year for the market. with over 90% of the s&p 500 up for the year. here now to discuss it all seventh capital managing principle monica and sure bets ceo and chief investment strategist monica. it's been a remarkable year so far. 460 s&p stocks are up over 100 are up 20%. 300 are up more than 10%. it's been absolutely phenomenal. i think we are in a cusp in this session right now of the next leg higher. >> i think you're right. isn't it wonderful what a little bit of stability can do when you are not sitting there jittering waiting for the next news thing that's going to blow up the markets. i think what is really benefiting us right now is some direction from the fed, letting us know that we're not looking at a number of hikes this year. i think that's given a lot
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of stability to the markets. i think also some sort of indication that with trade, you know, we are going to come to some sort of conclusion with discussions with china soon. i don't know if that's actually going to be the case. but at least they are working towards something and we're not hearing these headlines every day that spooked the markets. >> charles: all right. although this morning and overnight, rob, the headlines out of china was a string. they just finished that two-week conference and just left with promises to the take care of intellectual property. a litany of things including very positive comments about a possible trade deal. president trump now giving us something of a new timeline on this and initially before the open, that had markets looking much higher. >> yeah. i mean you, it's been amazing, charles, the rally we have had. you are right. this is all we have been talking about a long time. what's going to take the market higher? actually if you look at the s&p 500. we have just broken above a triple top extreme resistance. technically we are looking
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really good right now. if you look at mnuchin's comments today, charles, what they are doing quite honestly and why we are seeing this extension mnuchin and his counterpart are setting the table for xi and trump to make it more of a photo op. i think a deal is going to be done. that's what the market is telling you. i completely agree. i think this new 2800 level on the s&p is going to become support i think we are going to be hitting all-time highs in q 2, q 3. >> charles: monica, so far it's been broad-based. one thing i have noticed over the last week or so the remember jeps of names. fame names not all technically techs. consumer discretionary. consumer services. this morning upgrades this morning it was amazon. key bank $1,200 target on it we saw netflix. we saw apple get an upgrade. these are names that disappointed after fourth quarter and now wall street is coming back and so are investors. >> apple is up tremendously since q 4 of 2018. and i think we have to remember that like tech is a
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sexy industry but it's really also like the biggest industry of the markets. like this is representative of the biggest companies in america. people have investors are showing more confidence in getting back into the markets. you are seeing that with inflows. i think generally you are seeing a positive trajectory in the right direction. >> charles: the only thing, rob, some folks are anxious about the economy early in the year. we have seen a massive decline of earnings estimates for the first quarter. there is a massive decline in g.d.p. estimates. is the market just kind of saying okay, perhaps that happens and just looking past that? >> yeah, i think so. i think you made a good point here recently, charles. i think a lot of that was predicated off some of the media and really trying to talk this economy down. i think a lot of that has gotten past us. what we are going to see now is the actual opposite of that wh more of a wealth effect. when investors get their statement for q 1. i think they are going to be pleasantly surprised. i think that confidence and optimism is going to come back to the market.
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that's one of the things that's going to be contributory to this next level. people are looking past that and the news and positive news going forward is going to be a catalyst. >> charles: monica, robb, thank you very much. veto, quote unquote veto displamtion point simple message from president trump on twitter. this is the message after a dozen republicans defected and voted to block a national emergency to build the border wall. the veto today is expected around 3:30 eastern time, right, this afternoon. let's go to edward lawrence who is live at the white house with the very latest on this. edward? >> charles, president donald trump has no problem stating his positions as you know. now, he will veto this bill in about 90 minutes surrounded by families, parents, specifically whose kids were killed by illegal immigrants. law enforcement. this will be the first veto of donald trump's presidency. the bill was delivered late last night. now the white house insisting this veto is all about border security. >> our career border patrol
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agents and officials need these resources. they are spending more time processing illegal aliens right now than they are being able to monitor and provide the work that they need to secure the border. >> democrats say the president stepped outside his role when he declared a national emergency on the southern border. house speaker nancy pelosi says it's congress who decides how much money the president gets to spend. she says that when the president didn't like the amount of money they gave her, he is trying to do an end around. the president maintains that there is a crisis on the southern border that needs to be taken care of. he says democrats are just doing this all purely for political reasons. now, at the end of the day, after this veto, we will be back right back where we started. congress giving the president $1.375 billion for the wall. the president declaring the national emergency bringing it up to 8 billion. the rest of that amount getting up to 8 billion above the 1.375 will be stuck in the courts. whether the court the
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president has the power ultimately president donald trump believes that he does. he says it will end up, he believes, at the supreme court. charles? >> charles: edward, thank you very, very much. let's talk about the political fallout. i'm calling it the ides of march, right? the stunning rebuke by republicans in the senate following another vote on wednesday to end the u.s.' involvement in the war in yemen to which president trump also promises to veto. senator lamar alexander of tennessee says the senate is waking up a little bit to our responsibilities. i think the value of these last few weeks is to remind the senate of our constitutional place. joining me now to discuss from the conservative review tom borelli, executive director for heritage action tim chapman and democratic strategist christian hon. let me start with you, tom, it's sort of worrisome in a sense that it's fine that the republicans want to stand up and republican their turf. although many say they gave it up completely under the previous president. what do you think happens from here?
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is this the beginning of something that could harm the president's agenda? >> no, charles, it's not going to harm the president's agenda. what some of these republicans did, it's really an exercise in futility because president trump is going to veto it anyway. the big issue here is all the democrats and some republicans are now on the wrong side of safety and security. which is a core human value. how many news stories have we seen where someone has been killed by an illegal alien. 64,000 or 66,000 aliens were just arrested coming into the u.s. in february. 70,000 in 2017 americans died can of drug overdose. this really is a national emergency and being on the wrong side of that issue is not only bad politics, it's bad morally. >> charles: you know, kristin, of course democrats have sort of threaded the needle here acknowledging that there is a problem. maybe it doesn't elevate in their minds to a national crisis. nevertheless, more recent data has been astronomical
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and more than a 300 percent rise of families of 50 to 60% rise in children. you talk about the dangers of this trek to get to this country, where do democrats go from here and on this issue and other issues revolving around immigration? >> so, i think that it's not about we all can agree that we need to do something about illegal immigration. it's just this wall is not the right way to go. and i think, you know, my counterpart says that these senators that voted essentially against the president today are voting against safety but they are also voting with the constitution look what senator portland said he couldn't hold obama's feet to the fire and not hold trump to the same standards. it's not that democrats don't want to do anything about border security it's how we go about it and having the right plan in place. >> charles: at some point the supreme court will let
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us know if this is constitutional or not. are you concerned that now you have two things the situation in yemen, which you have a lot of republican senators who rebuke president trump on that and then this issue. what it means for parts of his agenda including, perhaps, the next spending bill? >> well, no, i mean, i agree that his agenda is going to still go forward. i think what you saw today was the president and the administration doing what they were elected to do. and then i think they were using every single tool at their disposal. i mean, the law was clear. he did have the authority to do this. now, we can back up and question whether or not congress should have given him the authority to do this when they passed the national emergencies act. and that's a very legitimate question. i think what i would like to see is i would like to see some democrats who say they are concerned about this pick up the phone and call senator mike lee who has a fantastic bill that really have taking seriously this issue of whether congress should reassert itself and talk about it outside the context of this really hot
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button political issue. because that's a real concern for the future of the country that we need to balance the powers. i don't begrudge the president for doing this and his agenda is still going to be largely intact. >> charles: tom, that bill, the mike lee bill would sort of close the barn door after this particular national emergency gets through. [laughter] it would be a phenomenal chance for democrats to say, yeah, we don't like this power and because this goes back to 1976, it's an opportunity for us to kind of clean it up. you know, again, we saw mcconnell call their bluff on the green new deal. this might be the same thing. >> yeah, charles, that's a great point. it is the same thing, you know, representative -- senator lee has a great idea really to close the barn door now. congress forever has been delegating authorities to the bureaucracies to allowing them to regulate everything that really wasn't in the language of the law. i have no problem with that. but we do have a problem right now with the emergency at the border. and more importantly, going
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back to security issue, you know, mr. zogby did a poll and it showed that suburban women, 45% of them wanted the wall and they didn't have a problem with extra funds beyond what was appropriated to construct the wall. that's an important voter block. >> charles: kristin, what happens now on this issue? because, again, i have seen several reports that suburban women were sympathetic to president trump's efforts at the border and now that we have seen these numbers swell with these families and these children. do you think the democrats change or alter their position at all? >> i think that if we're going to get anything done on comprehensive immigration reform like any other major issue, that both sides are going to have to stop pointing the finger at each other and actually come together and figure out what's in the realm of the possible. you have to have good faith efforts it's not easy being president. ask president bush. he tried his hard es to do something on immigration and
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was tanked by his own party. i think it's something that we are all going to have to stop firing at each other for a minute, sit down, take a look at what we can do together with the democratic house and the republican senate and something the republican president can find. >> charles: some say ronald reagan also did something on this but then promises that were made to him weren't kept. kristen, maybe you can unite both of these sides. we will see. >> yeah. [laughter] >> charles: tom, tim, kristen, thank you all very much we appreciate it. >> thanks a lot. >> charles: social media companies are grappling to stop copies of this live shooting video of this shooting tragedy in new zealand. at least 49 people slaughtered there. people wondering is enough being done? termites, feasting on homes 24/7.
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>> charles: at least 49 penal are dead at shootings in two mosques at christchurch in new zealand. worst mass shooting in that country's history. three people are in custody including a 28-year-old who is charged with the murders. the entire ordeal was apparently stream lived on facebook. in a statement facebook confirming that the video in question has been deleted. quote: police alerted us to a video on facebook shortly after the livestream commenced and we quickly removed both the shooter's facebook and instagram accounts and the video. we are also removing any praise or support for the crime and the shooter or shooters as soon as we are aware. copies of the horrific video continue to appear on facebook, youtube, and even twitter. google owned youtube said in a statement that it was, quote, working vigilantly to remove any violent footage. i want to bring in heather.
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on this situation, people are really outraged. they have been outraged many times. and, you know, the suggestion is that facebook, which has put a lot of effort into algorithms and flagging conservative hate speech, quote unquote. more recently they have done a lot in terms of facebook finding ways to fight off revenge porn. people wonder why something like this they would have to wait for the local police department to call them and make them aware of it. >> yeah. we cannot allow evil, hate and criminal activity to be aired on social web sites like facebook and youtube over and over again and perhaps inciting this type of violence in others. the fact that it was aired for 17 minutes showing the gunman entering the mosque and opening fire and then reaired and re-played available online, youtube and facebook for some period of time is unimaginable and unacceptable, charles.
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>> charles: you know, heather, a couple years ago when this high frequency trading became very well known, the statistics that you read and the ability of those algorithms to make these decisions, it's quicker than nano seconds to identify things, to make these moves. you know that there is a capability out there to certainly be able to see certain messages, certain key words and they should be springing into action a lot sooner. what do you think now? because these sort of, okay, we were have removed them after the fact. i don't think people are buying that anymore. >> no, i really don't. i look at this type of mass marketing violence as a negative externallality. you look at the epa, for example and they regulate pollution. that's a negative externallality. in a way it's social media pollution. it's not a matter of left vs. right or democrat vs. republican. i think in this case it's a
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matter of right vs. wrong. and if they can't police this type of evil terrorist activity themselves, then the government has to get involved here. >> charles: real quick because on that note we learned as there is an investigation by the eastern district already calling in two companies out of 150 that facebook did some dealings with and suggested they weren't selling our information. isn't it inevitable now at this point, heather, that there will be massive government intervention here? >> it sounds like it. whether you are for it or against it, senator elizabeth warren is pushing for breakup of these big tech titans. it's not just on antitrust their monda monopoly type behavr but also protecting your user data. that's at the top of the list here. silicon valley has a history of liberal bias at the top and pushing that liberal bias on their user. so, yes, we need to protect free speech and privacy. but we also need to remove these negative externallalities like the new zealand horrific terrorist attack.
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>> charles: the company also had two major executives leave too. stock is under pressure today but up 28% for the year. heather, thank you very much. coming up, businesses going on the defense as college admission scandals continues to really unfold rapidly. now lawmakers, they are eyeing policies to address the influence of wealth in the college application process. plus other interesting tidbits of news. we'll be right back. ♪ ♪ ♪
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charles k45r89s the fallout continues from the college administration scandal rocking the administration. crown media firing actress lori loughlin from all hallmark channel productions. there she was a regular for years and her daughter olivia jade is losing sponsorship both sephora and
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others cutting. she is a social media presence as well. high profile celebrities parents like golf pro-phil mickelson he had to come out and say, you know, we use this phi he is professing his innocence saying they did hire william singer. they did not cheat. singer is the man behind this cheating scandal. people wondering what's going to happen here? and the fact of the matter is now you have to defend yourself against fraud if you use this guy. joining me "new york post" columnist carol marco wits and national taxpayer union senior fellow maddy duppler. carol, let me start with you. the story does not stop it. will get more salacious. why there is this sort of shad and fraud kind of thing that celebrities that like to point their finger at the deplorables, there is a lot of other real serious issues here. >> absolutely. i think it's a gross misuse of money. i think it's really sick thing to do to your kid to
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tell them you don't believe in them and they have to go to a certain college to treat them like they are an accessory. >> charles: you are mostly blaming the parents? >> absolutely. i think if the kids knew they just went along with what the parents are doing. parents are supposed to set the example and set the examples of having no morals or ethics, your kids are going to go along with it. >> charles: maddy, what about the college system itself? many are saying it's a serious situation here and it's about time that america looked at this. we have 1.6 trillion of student debt. 11% of it is 90 days delinquent. could fall on the lap of taxpayers and other issues here that we should now use as an opportunity to maybe look into that world. >> i mean, i agree with what carol is saying what these parents, what these school administrators and coaches did is absolutely appalling. but i do think also that americans aren't terribly surprised. they already kind of assume that the elite have connections that the rest of the average americans don't. and that's why we see a lot of this populism rising in
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our politics. charles, i think your point is a good one. what does this say about the broader context of higher education in america? to me i hope this capitalizes the value we place on a four year university and whether or not that's actually the investment we are willing to make in our future generations. to say that the only path forward for college, the only path forward for your child is college and four year degree is wrong. something these parents were willing to make at the cost of a federal indictment and hundreds of thousands of dollars worth of money. that cost to me is a completely unjustified but it speaks to the broader malaise of arguing there aren't any other opportunities for the american youth. i think that's just not true. >> charles: although someone like this olivia jade had 2 million follower, i think, on instagram. she admitted even her mom admitted she was going for the experience. i see an issue here. i call it materialism. celebrityism, statussism. we are at this point people an hour private jet just to suggest they were taking.
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that goes to a much greater problem, doesn't it, carol? >> it does. you know the thing is and i mention this in my upcoming column on sunday about this scandal. all these parents wanted to be chris jenner with this team of kardashians and make a billionaire out of their kids and lip brand. if you follow the kardashians and for all the trouble they get and all the, you know, criticism they get, chris jenner is never trying to force her kid to go to yale. chris jenner is never trying to force one of her kids to go to a four year university at all. if you let your kid be who they are going to be, that's a much better path for everybody involved. trying to make their kid into something they are not to have bragging rights, that's the real problem here. >> charles: so, ladies, made, what do you think happens? what do you think the outcome of this will be? do we get in a general epiphany in this country golly we went too far or another bump in the road? >> charles, i hopely hope. so the point carol made is a good one. the fact that the natural
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path for success is not the same for every single kid in america is certainly an idea that we should be embracing. we shouldn't be rejecting it. and the notion of taking on hundreds of thousands of dollars in debt student loans for a four year degree that forces kids out of the labor force and deprives them of work experience that could be very useful is extremely damaging to a society where we have 7.4 million jobs open and not enough workers to fill them. the notion that our kids are all overeducated is fueled by this kind of number rose cease that says a 4 year degree and letters behind your name is more important than the work you put in than the opportunity in front of you. >> charles: the look to me is problematic, too. last year 200,000 teens have plastic surgery. something is wrong with that carol, mattie, thank you very much. i appreciate it? >> thank you. >> charles: blowing past industrials as the best-performer for 201. how much exposure should you have in your portfolio? we're on that next. also, to get applicants in the door, shake shack is embrace ago four day
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i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. >> charles: welcome back, all the major averages are up. we are pulling back a little bit off the high still ready to cap off another solid week of gains returning 2019 winning ways after a week of decline. second stock in the day after boeing beauty. this after the company topped estimates if you have been a frequent watcher of this network and show you probably made money on that. i will give you the details. plus economies warning the economy is cooling off. this as the "wall street journal" has a survey that shows this. maybe this actually helps the fed and its new devilish stance. john will be here and we
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will get his take on that. ♪ ♪ ♪ ♪ >> charles: all right, apple out with a new ad once again pushing privacy. that's the key message tim cook has been pushing taking relatable moments in your life like taking a shower andunder score how much we value privacy. we know it's a direct attack against their technology rivals like the facebooks of the world which faces a lot of questions over selling data. meanwhile, shake shack is testing out a new four-day workweek hoping to boost recruitment. similar moves have been made overseas. the underwhelming debut of tesla's new vehicle the model y small electric suv helping to send those shares much lowered. coupled with worries about that company's need for cash and investors are now asking has ceo elon musk lost his
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magic touch? monica and heather are with me. let's go backwards. has elon musk lost the golden touch here? >> no. i don't think he has lost the golden touch. is he a creative genius behind tesla. i just wish he would stop sending some of the scandalous tweets that are, perhaps, breaking the agreement that he had with the courts and the sec. other than that, is he still the creative genius behind tesla's vehicle. >> charles: i saw that model y and i yawned oh. and i'm routeing for the guy. what do you think? >> i don't know. is he a time bomb as far as i'm concerned. entrepreneurs like this love to take risks. they go up. they go down. i don't know that he ever had a golden touch. he is an inventor and he is exciting and he will have wins and he will have losses. >> charles: spacex is a grand slam success. this stock has been phenomenal. he has gone against the odds. we will see. i want to ask you guys about this apple lad.
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ad. apple known for creative ads. they hit the ground running with super bowl ad in 1948 that more or less introduced them to the world. tim cook, heather, has to be careful. this is a business model selling data. he has a footprint of a billion people and one day he may have the itch to make money off of it. >> like facebook, huh? look, i hear what you are saying. but, in this case, i think they are smart to advertise to consumers who want protection of their privacy. it's the right time for it. i want visitors to come to my house, but i lock the door. you know, you have to ring the bell. and given that they just had that face time glitch where you can call people and hear and see what's going on around them before they even pick up, i might be switching to. anna: droid if they don't focus on privacy. >> charles: really? >> i love this ad. >> charles: people give their information for free. they voluntarily put their whole life every single day they wake up, hundreds of millions of people around
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the world wake up and tell the people everything that's goebothering you. >> i'm so concerned about security i'm not here right now i'm a robot and somewhere else in a secure location. look at apple the company they are selling fewer phones and moving more to a service model. in general you are going to see that company sort of change its focus in where -- >> charles: they are trying to leverage, you know, their universe, right? their footprint. they are trying to leverage it with this service offering. >> absolutely. they need that footprint to make all of their app. stores like all of that cash cow requires them to to be all over the place in people's hands as the device. >> charles: let's stay on tech for a minute. heather, tech now the number one performer of the year. it was industrials for most of the year. and not being led necessarily by the apples or microsofts of the world but as the chip names lamb research today it's indidia. these aren't just good memes
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to be in but for the economy. do you think tech is back? >> i think tech has more room to run. i think that's an accurate statement because it's still further from the highs that we saw in october than, say, the dow and the s&p. i'm really surprised though that the dow is up this week this much despite boeing. and when i look at tech, again with all the regulation aimed at these big silicon valley tech titans, i think that will put pressure on these tech stocks at some point in time. >> charles: we have got to go. monica, tech is back. >> an investment in tech is an investment in america. a very important sector for the broad economy. it's not just tech that's back but people feeling confident. >> i like it. >> charles: you can always come back and share that message. monica, heather, ladies thank you very much. >> thank you. >> charles: new data showing job openings are surging. yet a "wall street journal" piece finding that economists are now cutting their forecast for jobs and economic growth.
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so where is that disconnect? what's that all about? we'll break down that survey. and we are just about 45 minutes away from president trump's veto signing ceremony. first veto of his presidency. you know it's going to be a good one. we'll be right back. ♪ ♪
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>> charles: economists lowering expectations for employment and economic growth for the first quarter of 2019 according to a new "wall street journal" survey. forecasters say the u.s. economy economic output will grow on average at a pace of 1.3%. this is a sharp decline from the 2% growth predicted just last month. the question then, of course, is why is the u.s. economy perhaps or allegedly slowing down. let's bring in the "wall street journal" global economics editor john hillsenrath. what we are seeing from the new york fed today what we have seen from the atlanta fed and others the first quarter is going to be rough like earnings are going to be down a lot. then we see the jolts report and other things. how do we get all of these different data points to work? >> well, i mean, i think what happens is when the economy is slowing down you can see turbulence in the economy and in the data. and we are seeing a lot of
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turbulence in the data right now. today was a great example of it. on the one hand the federal reserve reported that manufacturing output from the industrial production report fell for the second straight month. that looks bad. on the other hand, we saw consumer sentiment numbers from the university of michigan pop back up after falling the month before. so that looks good. i think, you know, what we are seeing is rather than all the data lining up in a positive way or a negative way, we are seeing a mix and, you know, it seems to be consistent with the slow down story that a lot of economists are talking to us about. >> charles: slowing down is not a bad thing after a year that we had last year. we will see it when the fourth quarter is revised. perhaps we hit 3%. certainly year over year we are at 3.1%. it's going to be a tough comparison to begin with no matter what. what does it mean though with respect to fed policy where the fed now has really, you know, they are clinging to this new doveish
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stance to the degree that a lot of people on wall street think their next big move will be to lower rates. >> we asked economists in this survey. what we do every month after the job's report comes out we go out and ask 60 economists, wall street investment banks and companies and universities for a range of predictions. and we ask them about the fed and what was really interesting in this survey, there were two things. first of all, you know, people are just kind of throwing out the forecast for interest rate increases any time before september. they think the fed is on hold at least until september. what we also saw was that one in five of these economists were saying that the fed's next move is not going to be an interest rate increase but an interest rate decrease. that's because, you know, two reasons, really. worries about growth slowing down, but, also, the inflation numbers have not come in at the fed's 2%
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target. they have been missing it for years and they softened again in the latest report. so economists think the fed might have some work to do to keep the economy going at this 2% pace. and, you know, the other thing i have got to say is the fed is very sensitive to risks of a slowdown or recession because if things go -- if things turn south they don't have a lot of maneuvering room to cut interest rates a lot like they did in the past. they want to avoid a downturn all together by staying on top of these things and making sure that they are not too tight going into, you know, any kind of slowdown on policy. >> charles: wall street is really thrilled they have come to that conclusion. john, always great talking to you. >> thanks a lot. i appreciate it. >> charles: you wilcharles ultae jenner for becoming my stock of the day. should investors be positioned, are you positioned and make sure to tune in to president trump's veto signing ceremony 3:30 p.m. eastern right here
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on fox business. we will be right back after the break. ♪ ♪ ♪ ♪ the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet? now when you go out, you cash in. the big drug companies don't see they see us as profits. we're paying the highest prescription drug prices in the world so they can make billions? americans shouldn't have to choose between buying medication and buying food for our families. it's time for someone to look out for us.
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your daily dashboard from fidelity. a visual snapshot of your investments.
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key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. charles: the s&p 500 now above that 2820 number, i have been telling you all week long the last hurdle before the next leg and i think this next leg can lift the index to an all-time high. wall street continues to return to big tech momentum names including amazon, which just fetched a $1,200 target this morning from a tier one firm. one of the stocks of the day, it was before boeing, ulta soaring on solid fourth quarter earnings and sales being helped along in part by its exclusive deal with kylie jenner. the cosmetic line giving both the company and her something to smile about. with me, jason rothman. jason, let me start on this 2820.
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i think you know what, i went back last year five different times, march, april, october, november, december, we hit that level, we failed to break out and the market came down hard. i think this breakout, if we hold it on the closing basis, takes us to a new all-time high. what are your thoughts? >> all-time high potential. i think we will keep rallying. i think that would be the more conservative way i would put it. all-time high is a pretty big stretch. the only reason why i think all-time high may not be imminent is that rates are a little bit higher than they were relative to the past business cycle. with that said, now that we have this dovish pause from our fed, i think that is giving the opportunity for the whole world to say it's safe to start buying again and in anticipation of this trade deal with china potentially working out, this is a classic buy the rumor. i don't think it's going to be sell the news. i think it's really safe to be in right now. charles: you know, ulta salon reported last night, another
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amazing beat. this stock is up like 7,000%, up over 1,000% from the very first time i told "varney & company" to buy it a few years ago. same store sales up over 9%. when you see a stock up 1,000%, 2,000%, 3,000% over a period of time, do you think it's over or can someone still buy a stock like this? >> well, there are so many -- great question. there's numerous different ways to play or invest in the stock market. there's options, there's derivatives, there's puts and calls. you could go long ulta or buy on a 5% dip. if you like a company, you don't have to just click the buy button today. with that being said, if somebody bought today, would they make money for six months? it's anybody's guess. i think in a great company, you should want to be involved. charles: speaking of which, all year long we marvelled at how industrial names carried the load early on, now the tech sector which has a 20% weighting, in other words, it's much more influential than any
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other sector, has taken the lead and it's not apple or microsoft, right, it's lamb research, nvidia. those names are powering it higher. do you think that can continue? >> yeah, you know what, again, very important topic. apple of course as you know has really recovered very very nicely. kind of outpacing the other big names. netflix aside, of course. but listen, i think we are seeing a monumental shift in how technology is used. obviously apple is generally more b to c, business to consumer, but if you notice, this may be a stretch but this is actually a real observation of mine, if you notice some of the activity of some of these gene therapy stocks, that's a massive, massive fundamental play. that's going to need computing power so nvidia is not going away. listen, i think that's a great point you have, this is a sector that's not going to, you know, stop. charles: i love their new offering. it's very powerful. the new machine, the gpu, it's
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even well-priced. let me ask you, we have time and i want to go over two of your ideas. one is iridium, i bought it a year ago in part because they were the ones with the payloads going up on the spacex rockets. the stock is breaking out big-time, up almost 6%. you still like it? >> you know what, listen, i have been talking about this, first time ever on fox business with our buddy stuart in may last year. it was at about $14 to $15. i said it's breaking out of a five-year consolidation. this is an incredible, incredible value play long-term hold. it's still only ten bucks above 15. i think this is a phenomenal long-term hold. of course, i own it, i bought it way back then. this is an incredible company. it has a moat you cannot dispute. nobody can do what they do. charles: although others will try. they have to just launch a million rockets. real quick, ten seconds, charlotte's web, it's acting great. why do you like it?
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>> listen, the whole cannabis medical marijuana recreational cannabis hemp sector is just a baby, just in the first inning. charlotte's web is a market leader. charles: first inning is all we need. thank you very much. we are up 154 points. liz claman, you got a heck of an hour coming up. liz: we sure do. charles, i don't know, we have been trying to look, have we ever seen a veto live? we have seen a lot of signing ceremonies. charles: this is president trump's first veto and it's a big one. liz: you know what, we are on the precipice of witnessing history, as president trump is expected to make the first veto of his presidency in this hour. it is anticipated he will strike down that resolution that had passed by the house and by the senate with 12 senate republicans breaking ranks to overturn his national emergency declaration over the crisis on the border. what we are going to do is take you live to the


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